The function f(x) = 0.02x + 100 represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t = 10. (A) The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at t = 10 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

The function f(x) = 0.02x + 100 represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded continuously. Find (A) the present value, and (B) the accumulated amount of money flow at t = 10. (A) The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at t = 10 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...

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